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The impact of climate change on agricultural systems has become a reality that currently threatens food security in numerous regions worldwide. However, concrete consequences of climate change on agricultural yields still remain unknown in many countries around the world, including Romania. This study conducts a first-ever analysis of the impact of climate change on maize productivity in Romania, the European Union's leader in maize harvested production, which holds almost 30% of the European maize production. The paper explores complex statistical relationships between the climatic water balance (CWB)/its constituting parameters precipitation (P) and reference evapotranspiration (ETo) and maize yields (Zea mays L.) recorded nationally from 1990 to 2013, a key-period in Romania in terms of climate and socio-political changes. The analysis of various agro-climatic data, based on well-established methods (linear regression and bootstrapping), showed that the countrywide dependence of maize yields variability to changes in the analyzed climatic variables was considerable and reached peak values of roughly 60% for the CWB-yield relationship and around 50% for the P-yield and ETo-yield relationships. At the same time, a significant sensitivity of maize yield dynamics was found in response to a 1-unit climate change, which, on average, was quantified at 5 kg/ha/yr for a 1-mm variation of the CWB, and at 19 kg/ha/yr and 11 kg/ha/yr for a 1-mm change in P and ETo, respectively. In addition to this agricultural impact, our findings regarding the economic impact associated to concrete climatic trends (CWB decreases and ETo increases over the 24 years, consistent with an overall increase of the humidity deficit, and P increases, consistent with humidity surplus) indicate total costs of approximately 53 mil € (or almost 1% of the national agricultural gross domestic product) for the CWB-yield relationship, and of ~200 mil € (~3%) for ETo-yield. It was found that the separate influence of P in maize dynamics was positive, with net financial gains of up to ~130 mil € (~2%). However, our findings show that only the economic costs associated with the impact of ETo on maize productivity are highly statistically reliable. Our results issue a warning about the urgent measures to fight climate change effects on agriculture in Romania, which are necessary especially in the counties located in the Extra-Carpathian regions, highly vulnerable to climate dynamics. • Investigation of climate change impact on agricultural yields in Romania after 1990. • Analysis between climatic water balance (CWB)/precipitation (P)/reference evapotranspiration (ETo) and maize yields. • Up to ~60% dependence of maize yields variability to climatic changes, for the CWB – maize yields relationship. • Average sensitivity of 5 kg/ha/yr, 19 kg/ha/yr and 11 kg/ha/yr, for a 1-mm variation of the CWB, P and ETo. • Total economic costs of up to 53 mil €/200 mil €, associated with the negative impact of CWB/ETo on maize yields. [ABSTRACT FROM AUTHOR]